Banque Cantonale Vaudoise Acquires New Stake in Ulta Beauty Inc. (NASDAQ:ULTA)

Key Points

• Banque Cantonale Vaudoise has acquired 2,712 shares of Ulta Beauty Inc., valued at approximately $994,000, signaling institutional interest in the specialty retailer during the first quarter.
• Ulta Beauty reported a quarterly earnings per share (EPS) of $6.70, exceeding analysts' expectations, with revenues reaching $2.85 billion, a 4.5% increase from the previous year.
• Wall Street analysts have varying ratings for Ulta Beauty, with a range of price objectives, including a recent target increase by JPMorgan Chase & Co. from $477 to $525, maintaining an "overweight" rating.

Banque Cantonale Vaudoise acquired a new position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,712 shares of the specialty retailer's stock, valued at approximately $994,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American National Bank & Trust bought a new stake in shares of Ulta Beauty during the 1st quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in Ulta Beauty during the 1st quarter worth about $31,000. Rakuten Securities Inc. lifted its position in Ulta Beauty by 218.5% during the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock worth $32,000 after acquiring an additional 59 shares during the period. North Star Investment Management Corp. lifted its holdings in shares of Ulta Beauty by 71.4% in the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock valued at $35,000 after buying an additional 40 shares during the period. Finally, NBC Securities Inc. acquired a new stake in shares of Ulta Beauty during the 1st quarter worth approximately $37,000. 90.39% of the stock is owned by institutional investors.

Ulta Beauty Stock Down 0.5%

NASDAQ ULTA opened at $515.01 on Friday. The firm has a market cap of $23.15 billion, a P/E ratio of 20.12, a P/E/G ratio of 3.13 and a beta of 1.08. Ulta Beauty Inc. has a 52-week low of $309.01 and a 52-week high of $523.68. The business's 50-day moving average price is $473.18 and its 200 day moving average price is $410.77.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, beating analysts' consensus estimates of $5.73 by $0.97. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $6.47 earnings per share. As a group, analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ULTA shares. Telsey Advisory Group reiterated an "outperform" rating and set a $520.00 price objective on shares of Ulta Beauty in a research note on Friday, July 11th. JPMorgan Chase & Co. upped their price target on Ulta Beauty from $477.00 to $525.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Barclays increased their price objective on Ulta Beauty from $327.00 to $485.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Wall Street Zen upgraded shares of Ulta Beauty from a "hold" rating to a "buy" rating in a research note on Saturday, June 28th. Finally, DA Davidson raised their price objective on Ulta Beauty from $550.00 to $585.00 and gave the stock a "buy" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $466.57.

Ulta Beauty Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.

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